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Northern NY Community Foundation

Northern NY Community Foundation

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NNYCF vs. A Private Foundation

Easy and less expensive to establish:

The Northern New York Community Foundation has existed since 1929. Annual costs are minimal.

Private Foundation: Must establish a new organization, which involves legal, accounting and start-up costs.

Tax-exempt status:

Funds share the public charity status of the Northern New York Community Foundation.

Private Foundation: Must apply for tax-exempt status from the IRS and is subject to an excise tax and payout requirements.

Technical expertise:

The Community Foundation provides expertise in the areas of management of gifts and grants, finance and administration. Professional staff is also available to offer advice and counsel related to community needs and grant evaluation.

Private Foundation: Must perform, contract, or hire staff to perform these services.

Annual tax filings and returns:

Component funds of the Northern New York Community Foundation are included in annual tax reporting to the IRS and the NYS Attorney General.

Private Foundation: Must be filed by the private Foundation with required supporting schedules and must report to the state as well.

Investments:

The Northern New York Community Foundation professionally invests more than $43 million. The Foundation currently uses nine investment managers.

Private Foundation: Must research and secure its own investment vehicles.

Maximum tax advantage for cash gifts:

Tax deduction for gifts of cash allowed up to 50% of adjusted gross income.

Private Foundation: Tax deduction for gifts of cash limited to 30% of adjusted gross income.

Maximum tax advantage for appreciated property:

Tax deduction available for full fair market value of appreciated property for up to 30% of adjusted gross income.

Private Foundation: Tax deduction for gifts of appreciated property, both publicly traded and closely held, limited to 20% of adjusted gross income and the donor’s cost basis.

Northern New York Community Foundation

131 Washington Street
Watertown, NY 13601

Phone: 315-782-7110
Fax: 315-782-0047

info@nnycf.org

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Northern New York Community Foundation

2 weeks ago

Northern New York Community Foundation

“Giving back is so important because it creates a culture that, the more we give, the better it is for everyone — those giving, and those receiving. That’s very, very important. We can always do more and we have to remember that.” — Donald Whitney, Adams Center

Don Whitney came from a family of givers. He believed that helping your community in any fashion is part of gratifying life. We are grateful for having known him and even more grateful that Don joined us in 2017 to participate in the Northern New York Community Podcast. His passing last weekend deeply saddens us. The fact that his story — in his own voice — is forever documented is a wonderful part of his permanent legacy that will inspire generations to come.

Learn more about what called Don to a life of service to his community and others in this 2017 episode from the second season of the Northern New York Community Podcast.

Listen today at: www.nnycpodcast.com/episodes/donald-whitney

#NNYCF #ThoughtfulLegacy #CommunityPodcast
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“Giving back is so important because it creates a culture that, the more we give, the better it is for everyone — those giving, and those receiving. That’s very, very important. We can always do more and we have to remember that.” — Donald Whitney, Adams Center

Don Whitney came from a family of givers. He believed that helping your community in any fashion is part of gratifying life. We are grateful for having known him and even more grateful that Don joined us in 2017 to participate in the Northern New York Community Podcast. His passing last weekend deeply saddens us. The fact that his story — in his own voice — is forever documented is a wonderful part of his permanent legacy that will inspire generations to come.

Learn more about what called Don to a life of service to his community and others in this 2017 episode from the second season of the Northern New York Community Podcast. 

Listen today at: www.nnycpodcast.com/episodes/donald-whitney

#NNYCF #ThoughtfulLegacy #CommunityPodcast
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  • Likes: 47
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I'm so happy that Don did this podcast...it will always be nice to hear his voice and his passion for history!!

A truly wonderful man and educator.

Prayers for this wonderful man's family🙏💗

Such a wonderful man!

This man was a huge part of my life growing up and I pray for his family. Say hi to mom for me Don

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